Beyond Meat (NASDAQ: BYND) announced the re-launch of its alternative to chicken meat with the rollout of plant-based chicken tenders on Thursday.
The Company is launching the product in around 400 U.S. restaurants, little more than two years after it discontinued a frozen chicken strip offering due to negative reviews, according to Reuters. The decision to re-launch a chicken product follows a 26% drop in the Company’s U.S. foodservice revenue in the three months to April 3rd.
Beyond Meat has not said whether the chicken tenders will be sold in grocery and supermarkets, but did publish a list of locations, such as Bad Mutha Clucka, Dog Haus, Plow Burger and Flyrite Chicken, where consumers could get a taste of the new offering.
Made out of fava beans and peas, with 14g of protein per serving, the Company looks to position the new offering as a viable source of protein, with 40% less saturated fat than the leading foodservice chicken tender. And, in an interview with CNBC, Beyond Meat’s Chief Executive, Ethan Brown, said the chicken tenders were priced keeping foodservice in mind and that the Company planned to launch more chicken meat substitutes in the future.
The Company’s decision to roll out its new chicken tenders to coincide with the re-opening phase for many restaurants was a coincidence, according to Mr. Brown. Nevertheless, the Company’s stock gained 1.83% in early morning trading, before tapering off to its previous close during the day.